S-26 - Act respecting mineral exploration partnerships

Section 15 Disposition versions

1977-12-31

15. The executive committee may administer the affairs of the partnership in all things and make or cause to be made for it, in its name, any contract which it may lawfully enter into, provided that no sale or other alienation of the property of the partnership, in whole or in part, may be made or effected by the executive committee without the approval given by the vote of shareholders holding a majority of the outstanding shares of the partnership, represented at a meeting of shareholders called for such purpose, or by a writing signed by shareholders holding a majority of the outstanding shares, after notice given to all shareholders, as prescribed for meetings.

R. S. 1964, c. 284, s. 15.